A few years ago, apartment owners and managers were okay with resident turnover because they were seeing double-digit rent growth in just about every market, according to Tony Sousa, Vice President, RPM Living.
"It was all about getting new leases," he said.
"There was a tremendous focus on resident acquisition, but today, ignoring a resident renewal strategy comes at a great cost," Darcey A. Forbes, Head of Real Estate Operations at Renew, said.
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